approximately 300 pips??? and you only trade AU??? wow!amazing!
- #13,162
- May 31, 2012 9:02am May 31, 2012 9:02am
- | Joined Nov 2009 | Status: FUDGE | 2,229 Posts
approximately 300 pips??? and you only trade AU??? wow!
- #13,163
- May 31, 2012 9:05am May 31, 2012 9:05am
- | Joined Nov 2009 | Status: FUDGE | 2,229 Posts
+29.03% for the day...I'm getting tired so off to bed I go...leaving 2 trades overnight. Good luck to all and many GREEN pips 
- #13,164
- May 31, 2012 9:08am May 31, 2012 9:08am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #13,165
- May 31, 2012 9:37am May 31, 2012 9:37am
well said Realjumper 
i agree
i agree
EJ Traders
See the double bottom on the Weekly chart? other than these two, it hasn't been lower than this since 2000.
Q. Does the double bottom mean it's going to reverse?
A. Stochastic is way oversold but it could stay down here for a long time. Also, do you see any reason in the candles that says the bears are exhausted? I don't.
This technically could reverse.....we are at a VERY important level......but those bears are strong.
Let Symphonie show you the way, but be aware of where we are!
{Promotion Removed}
- #13,167
- May 31, 2012 12:51pm May 31, 2012 12:51pm
- Joined Oct 2007 | Status: Trader | 2,972 Posts
Looking at the Daily Chart we can see that there was indeed a bounce right at the point of the touch point 4 of the expanding triangle. However, that is when things start to go bad....
It appears we have a ''dead cat bounce'' and then a complete breakdown of the expanding triangle as price action breaks back out of the lower support line and continues to drop some 300 pips below that line. We can thank the Spainish Bank ''Bankia'' and its insolvency problems for that one!!!; as the EU politicians try to think of a new way to play ''kick the can down the road'' that does nothing but further destroy confidence in the EURO.
As you can see Symphonie is still very much the BEAR as all four rows remain very much red and with Stochastics remaining under 20 this has all the potential of a large drop in EURUSD. This has all the hallmarks of another drop to come soon.
ALTERNATE CASE:
So, What can we expect?? It is clear that one can count a wave 1 from 1.34857 with a perfect 78.6 fib retrace to 1.33800 as wave 2. That makes the current drop we are in a Wave 3 that should end soon around 1.22400 to 1.2200. From there one should look for a small retracement rally as wave 4 to possibly 1.2500 (23.8fib) before a final wave 5 that should take the EURUSD to a min. of the 2008 low of 1.18 to possibly an extended 5th wave to 1.12.
From that point one should look for the next possible Euro rally before the great drop to parity or below.
As one can see from the Chart....Symphonie is calling the shots and telling one the turn points. The rest is up to you.
Evaluator.:nerd:
It appears we have a ''dead cat bounce'' and then a complete breakdown of the expanding triangle as price action breaks back out of the lower support line and continues to drop some 300 pips below that line. We can thank the Spainish Bank ''Bankia'' and its insolvency problems for that one!!!; as the EU politicians try to think of a new way to play ''kick the can down the road'' that does nothing but further destroy confidence in the EURO.
As you can see Symphonie is still very much the BEAR as all four rows remain very much red and with Stochastics remaining under 20 this has all the potential of a large drop in EURUSD. This has all the hallmarks of another drop to come soon.
ALTERNATE CASE:
So, What can we expect?? It is clear that one can count a wave 1 from 1.34857 with a perfect 78.6 fib retrace to 1.33800 as wave 2. That makes the current drop we are in a Wave 3 that should end soon around 1.22400 to 1.2200. From there one should look for a small retracement rally as wave 4 to possibly 1.2500 (23.8fib) before a final wave 5 that should take the EURUSD to a min. of the 2008 low of 1.18 to possibly an extended 5th wave to 1.12.
From that point one should look for the next possible Euro rally before the great drop to parity or below.
As one can see from the Chart....Symphonie is calling the shots and telling one the turn points. The rest is up to you.
Evaluator.:nerd:
- #13,171
- Edited Jun 1, 2012 1:39am May 31, 2012 2:35pm | Edited Jun 1, 2012 1:39am
Hi everybody,
This is my first post on ForexFactory, no it is even my first post on any Forex forum. I am following this thread from November last year and although I was enthusiastic about it, my enthusiasm is slowly sinking away.
Some of the traders here are getting consistent profits from this system, but I simply cannot understand how. Although I am in the Forex business for two years now, I was never profitable, but I became an expert in crashing demo accounts and obviously lost some real money too. Nevertheless I am determined to be successful in this business so I just keep going.
Now everybody knows I not a good trader, programming is something I can do pretty quickly. What I did is I created an Expert Advisor (EA) for this system and let it run for a couple of months on all currency pairs. My idea was to analyse the data and determine what the most profitable pair was. That's what I did, but none of them was profitable.
The EA attached is executing Evaluators 60-5 method. It only takes trades if the following conditions are met:
1) All Symphonie signals line up in H1 chart;
2) All Symphonie signals line up in M5 chart (in the same direction);
3) There has to be enough room for profit to the closest pivot line;
4) The stochastic is good;
5) The ADR is not exhausted;
6) Between Frankfurt open and London close (note that it is using my time zone which is GMT+1+daylight saving time);
7) It does not wait for the candle to close.
I was inspired by Yelena, who once said she closed the trades after 10 pips profit. So the take profit is set to 10 pips for each trade this EA places. It can take a while before the EA places a trade, so give it some time, at least you don't have to watch the screen yourself
How to use the EA ? It should be pretty simple. Open a H1 chart and a M5 chart of the same currency pair. Put the attached template on both of them and attach the EA to the H1 chart, that's it. Remember the EA goes into the 'MetaTrader/expert' folder and the indicators are in the 'MetaTrader/expert/indicators' folder. The template goes into the 'MetaTrader/templates' folder. After saving the matrix indicator in the appropriate folder, rename its back to its original name, thus removing ' MeAgain' from the filename (note the space there). Also make sure you have 'Symphonie Pivots_LHDT.mq4' in your 'MetaTrader/expert/indicator' folder, which comes from one of the packages in the first post of this thread.
If anybody has a profitable exit strategy and wants some help in automating it, you can send me a PM. Not sure if it will reach me, cause I am registered as a junior member with a lot of restrictions here.
Have fun with it.
Warm regards,
MeAgain
P.S. One last advice, do NOT use this on a real money account. Don't say I did not warn you, do NOT use this on a real money account. Unless you have studied code, or tested the EA thoroughly.
This is my first post on ForexFactory, no it is even my first post on any Forex forum. I am following this thread from November last year and although I was enthusiastic about it, my enthusiasm is slowly sinking away.
Some of the traders here are getting consistent profits from this system, but I simply cannot understand how. Although I am in the Forex business for two years now, I was never profitable, but I became an expert in crashing demo accounts and obviously lost some real money too. Nevertheless I am determined to be successful in this business so I just keep going.
Now everybody knows I not a good trader, programming is something I can do pretty quickly. What I did is I created an Expert Advisor (EA) for this system and let it run for a couple of months on all currency pairs. My idea was to analyse the data and determine what the most profitable pair was. That's what I did, but none of them was profitable.
The EA attached is executing Evaluators 60-5 method. It only takes trades if the following conditions are met:
1) All Symphonie signals line up in H1 chart;
2) All Symphonie signals line up in M5 chart (in the same direction);
3) There has to be enough room for profit to the closest pivot line;
4) The stochastic is good;
5) The ADR is not exhausted;
6) Between Frankfurt open and London close (note that it is using my time zone which is GMT+1+daylight saving time);
7) It does not wait for the candle to close.
I was inspired by Yelena, who once said she closed the trades after 10 pips profit. So the take profit is set to 10 pips for each trade this EA places. It can take a while before the EA places a trade, so give it some time, at least you don't have to watch the screen yourself
How to use the EA ? It should be pretty simple. Open a H1 chart and a M5 chart of the same currency pair. Put the attached template on both of them and attach the EA to the H1 chart, that's it. Remember the EA goes into the 'MetaTrader/expert' folder and the indicators are in the 'MetaTrader/expert/indicators' folder. The template goes into the 'MetaTrader/templates' folder. After saving the matrix indicator in the appropriate folder, rename its back to its original name, thus removing ' MeAgain' from the filename (note the space there). Also make sure you have 'Symphonie Pivots_LHDT.mq4' in your 'MetaTrader/expert/indicator' folder, which comes from one of the packages in the first post of this thread.
If anybody has a profitable exit strategy and wants some help in automating it, you can send me a PM. Not sure if it will reach me, cause I am registered as a junior member with a lot of restrictions here.
Have fun with it.
Warm regards,
MeAgain
P.S. One last advice, do NOT use this on a real money account. Don't say I did not warn you, do NOT use this on a real money account. Unless you have studied code, or tested the EA thoroughly.
- #13,175
- May 31, 2012 6:10pm May 31, 2012 6:10pm
- Joined Apr 2006 | Status: Trader | 1,480 Posts
In the days of old when sailors were bold, and seldom if ever contented.
- #13,176
- May 31, 2012 9:59pm May 31, 2012 9:59pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #13,180
- Jun 1, 2012 4:19am Jun 1, 2012 4:19am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.